Qatar foreign reserves up 2.79% in July to $58bn

DOHA: Qatar’s Central Bank foreign reserves and hard currency liquidity rose 2.79 percent year-on-year in July to 211.325 billion riyals ($57.74 billion), the Gulf state’s official news agency QNA reported on Sunday.

According to FocusEconomics’ report, Qatar’s gross domestic product per capita may exceed $100,000 in 2026 as the national economy is expected to pick up steam in the years ahead.

The country’s GDP per capita in 2026 will be $101,816, it estimated.

National GDP has been estimated by FocusEconomics to reach $217 billion this year.

The Qatar Central Bank hiked rates by 50 basis points in July, diverging from the Federal Reserve’s 75 basis points hike, the researcher said.

Inflation is expected to average almost double its 2021 level this year due to recovering demand and higher commodity prices.

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